Short Interest in Central Pacific Financial Corp. (NYSE:CPF) Declines By 31.8%

Central Pacific Financial Corp. (NYSE:CPF - Get Free Report) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 432,000 shares, a decline of 31.8% from the November 30th total of 633,100 shares. Based on an average daily volume of 230,900 shares, the short-interest ratio is currently 1.9 days. Approximately 1.6% of the company's stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. grew its holdings in Central Pacific Financial by 0.6% in the second quarter. Panagora Asset Management Inc. now owns 152,349 shares of the financial services provider's stock valued at $3,230,000 after purchasing an additional 949 shares during the last quarter. Acadian Asset Management LLC grew its stake in Central Pacific Financial by 16.6% in the 2nd quarter. Acadian Asset Management LLC now owns 539,882 shares of the financial services provider's stock valued at $11,442,000 after acquiring an additional 76,957 shares during the last quarter. LSV Asset Management increased its holdings in Central Pacific Financial by 10.7% during the 2nd quarter. LSV Asset Management now owns 663,230 shares of the financial services provider's stock valued at $14,060,000 after acquiring an additional 63,862 shares in the last quarter. Texas Permanent School Fund Corp raised its position in Central Pacific Financial by 44.7% during the second quarter. Texas Permanent School Fund Corp now owns 34,252 shares of the financial services provider's stock worth $726,000 after acquiring an additional 10,584 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Central Pacific Financial by 17.8% in the second quarter. American Century Companies Inc. now owns 511,590 shares of the financial services provider's stock valued at $10,846,000 after purchasing an additional 77,265 shares in the last quarter. 88.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Central Pacific Financial from a "hold" rating to a "sell" rating in a research note on Tuesday, December 10th.

Central Pacific Financial Stock Performance

NYSE CPF traded down $0.29 on Friday, hitting $28.78. 143,101 shares of the company's stock were exchanged, compared to its average volume of 199,842. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.85 and a quick ratio of 0.85. The firm's 50-day moving average price is $30.11 and its two-hundred day moving average price is $26.98. The firm has a market cap of $778.93 million, a price-to-earnings ratio of 13.70 and a beta of 1.18. Central Pacific Financial has a fifty-two week low of $18.00 and a fifty-two week high of $33.25.

Central Pacific Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Friday, November 29th. Central Pacific Financial's dividend payout ratio (DPR) is 49.52%.

Central Pacific Financial Company Profile

Central Pacific Financial Corp. operates as the bank holding company for Central Pacific Bank that provides a range of commercial banking products and services to businesses, professionals, and individuals in the United States. It offers various deposit products and services, including checking, savings and time deposits, cash management and digital banking, trust, and retail brokerage services, as well as money market accounts and certificates of deposit.